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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: sixty2nds who wrote (28619)	2/16/2006 8:04:37 AM
From: sixty2nds	Respond to of 95652

07:22 UMC UMC fined over Hejian investment, announces tenth treasury share repurchase - Digitimes (3.10 ) Digitimes reports Taiwan's Ministry of Economic Affairs Investment Commission on February 15 announced it is fining Taiwan's second largest pure-play foundry United Microelectronics Corporation (UMC) NT$5 million for breaking local Taiwan laws, as UMC assisted in the establishment of China foundry Hejian Technology. UMC, on the same day, also announced it is repurchasing 5.05% of its issued treasury shares in an attempt to write-off capital. MOEAIC indicted that UMC company officials, including ex-chairman and vice chairman, Robert Tsao and John Hsuan, assisted and were involved in the establishment of Hejian from 2001, according to the authority's press release. The government fine request comes at the same time that UMC has announced its treasury share repurchase. UMC announced it is repurchasing one billion shares (or 5.05% of its total issued treasury shares) with the per share price ranging from NT$12.35-27.50. EDN suggested that the foundry's total capital may be slashed to NT$178 billion from NT$197.9 billion if UMC utilizes all the bought back treasury shares to write-off capital. The company may also improve its earnings per share (EPS) after the capital write-off.